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<br />Mapping Concerns. FEMA estimates,that the federally backedlljlod insurance it //1
<br />provides to residents in more than 18,000 ~;~~~es saves more /t\l~~n:halfbilliOn dollars a / / >/ /
<br />year. The savings are due to the require;1}efit that communities ~$.n;le for the insurance agree ta '
<br />restrict building in areas prone to flo.oSlirig damage. With sUyl1):r1arge financial stake involve(f.(/ I
<br />NOS stand~ds for positioning, 4ll!~...iR!bmission, and arcJU4rig should be made mandasqry.:fO'r all
<br />flood-rate m~pping. In the fgtrtJe, FIR~produced9~MA should be based exclusively on I
<br />NOS certif~d elevation s91trbl. The payoftqll},~significant, as demonstrateg~-tlomed~~rs
<br />along the M:ississipp~<R(ver near New Orleans'iIf'Jefferson Parish. whose flo01}ihsurance rat~,
<br />were reduied by I O~r;ent as a result of the Parish's use of a GIS based 94~6nsistent ""./>
<br />coordina1es egablis'hed by NOS. /~/.>/::>/
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<br />.1-0/ Notional lender's Insurance Council (NLlCi://'>"
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<br />The Organization. The NLIC is a not-for-pr9f~corporation whose active 1J1~mbership
<br />stS.gUmgers and servicers. The group serveypte lending industry by (1) p!';"(lyiding a
<br />~2Bm!~ forlending and servicing indu~trt:iriput into insurance discus~iI?"pSwith
<br />menhllld' private~irujustry representa}iyes on matters that lead to 1~g1;;\1ition and
<br />gulation; (2) providing a fOl-umior the qp~n and honest exchange o(.r~lls and solutions to
<br />:9jnsurance challenges facing alllend'et:s llJl'1~ servicers; (3) providi~(Sburce for current and
<br />-~i~ul insurance information and edl!cation relevant to kpd}ll'S and servicers, regardless of
<br />size, special interests, or trade affiliatio?s;~f4J.Eroactiv~/iddressing the risk managemen.t<
<br />"'0 challenges facing the lending industriji1 protectliig-CQtk!~,a1 against uninsured losses fro!J1:;>'
<br />ZONE ~ommon perils, floods, earthquakes, Mind storms, and o~lll: disasters. Regulated lendyriare
<br />responsible for determining a collateral property's flood-zone.status. If the property/j$-'
<br />determined to be located in an SFtt}., the regulated lender rriN~Vequire flood J~6filnce for the
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<br />/hntil the mid-I 980s, lend~?~~re left to their own device:)~;d~(:~ining a property's
<br />flooj!~ione statu~. T,\!eXUaps, in themSelves, proved to be less-t~adequate tools for that
<br />p~rf?6se. Little daa~fexisted to assist a k;*r in locating a ~p€rty on the map. Detail that may
<br />!)rife been provided/ef1:~n was inaccurate and~.sleading/(e.;g:, had misnamed or misplaced
<br />/ijtfe~ts), !"1any I~.r;.diirs-s~l( left the determiri:a~~.YIl)6the appraiser. After all, the lender's
<br />.. /busmess IS not cartography>,-." \/
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<br />As a/jisult of the lenders' nee(i..t:Gt~iter interpretation of maps, a new industry emerged:
<br />the flo~d-z.ol)~~termi.natio~ com, pany/J.ne lending indus~ry is i~cr, e, a, ~in"g, ,IY, con, tr, ac, ting wit~'_'~~~:::~~::-I:::~:
<br />determmatlOn ~les to mterp~~t:'maps, and concentratmg on ItS pnmary purp().se:()f~!1lg'~::~~:"- ",.'
<br />loans. The zone deieTIilin,ation)nat:lstry has prospered, particularly foll()wirlg'j.l:le:e~ent(jf
<br />NFIRA and the "perpetua'l~\<~ce" rule affecting Oovernm5!lt~~p~Enterprise loans.
<br />i: That rule requires a lend~ef,..servicing such a loan to knoYl~ediatelyany change in the subject
<br />property's flood zone,/r to act acCOrdingl~<;;;;;:i~;:;://
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<br />Mapping Co,~~1\2IittiQns-()f.d6frarSare spent annually to locate properties on flood
<br />_____ i' maps. Even thouglr}rJender mar;C~out the determination requirement, it still bears the
<br />- ------.::----=--=--reSl'u!'5il>>li~fol"lhe-I,ls:9>l~gt!the _determination. Consequently, the lender has a high level of
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